federal shutdown

A report by the state’s comptroller finds that the dysfunction in Washington may take a bite out of Wall Street profits for the remainder of this year.

The analysis by New York state Comptroller Tom DiNapoli finds the recent gridlock in Congress, higher interest rates, and the JP Morgan $13 billion settlement over bad mortgages is contributing to lower earnings and profits for New York’s financial industry.

Rep. Dan Maffei told constituents Tuesday evening he shares in their frustration over the federal government's shutdown, saying there will be serious consequences if it drags on.

The Democrat from Syracuse even agreed with one caller's claim that Congress' inability to act was "disgusting."

Maffei voted with House Republicans late Monday night for a spending plan that would have, if the Senate had approved it, delayed the individual mandate portion of Obamacare for a year. While trying to strike a bipartisan note, Maffei laid more blame on the G.O.P. than his own party.